Last month, D.C. Mayor Muriel Bowser announced her request for an unprecedented $500 million of funding for the Housing Production Trust Fund, D.C.’s main affordable housing financing vehicle, in her proposed fiscal 2023 budget, doubling her request of $250 million in fiscal 2022. These record increases in funding are part of her goal to add 12,000 affordable housing units by 2025.
According to the mayor’s office, the budget proposal also includes $110 million to rehabilitate or replace more than 1,500 units of public housing over three years, as well as $219 million to bring back public housing units at Barry Farm, Park Morton, Bruce Monroe and Northwest One.
This funding is critical to meet the housing needs of D.C.’s low-income residents, many of whom were already struggling to pay rents they couldn’t afford before they were disproportionately impacted by job loss due to the Covid-19 pandemic.
Additionally, as the District works to attract more businesses that will be looking…
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